We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Medical Office Management Essay Sample

essay
The whole doc is available only for registered users OPEN DOC

A limited time offer!

Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed

Order Now

Medical Office Management Essay Sample

When dealing with bookkeeping systems, there are three main types. There are Single-entry systems, double-entry system, pegboard/write-it-once systems. These are anywhere from easy, no training necessary systems, to more difficult entry systems. Each one is used differently on a day-to-day basis in clinics and medical offices today.

The first bookkeeping system is Single-entry system. This is usually used in small businesses. Single-entry is fairly easy to learn and navigate. The single entry system does not take into account the double effect of every transaction. In order to use this system, you must have the General journal, the cash payment journal, and the accounts receivable ledger. For most clinics and offices, this is sad to be one of the easiest systems to use.

The second is the Double system. This system requires transactions to be recorded manually or by computer. Numerous subsidiary journals are used while entering in the information. Double system is an accounting technique which records each transaction as both a credit and a debit. Doing so will make sure that all account information is correct and accurate. Double system also decreases the chance of having errors come up. This system is most likely the safest way to go.

The third and last system is the Pegboard/write-it-once systems. This system is an older method and it tracks patients’ accounts that allow figures to be proved accurate through mathematical formulas. Write-it-once system uses a board with pegs running all the way down the left side. The pegs hold a day sheet in place on the board. All transactions for the day are recorded on this day sheet. Many people say that this system is the easiest, because little knowledge is needed in order to understand this system. This also doesn’t require as much training as some of the other systems might take.

Reference:

http://www.ventureline.com/accounting-glossary/O/onewrite-system-definition/

We can write a custom essay

According to Your Specific Requirements

Order an essay
Get Access To The Full Essay
icon
300+
Materials Daily
icon
100,000+ Subjects
2000+ Topics
icon
Free Plagiarism
Checker
icon
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access
immediately?

Become a member

Your Answer Is Very Helpful For Us
Thank You A Lot!

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?

Can't find What you were Looking for?

Get access to our huge, continuously updated knowledge base

The next update will be in:
14 : 59 : 59
Become a Member